The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-06-15

supreme Court.
Hon. Allen collars, Chief-justice
The following opinions were rendered June a.
NEUTRALITY-SUSPICIOUS. FUNDS
1364I VIM Rowe, trustee, VS.. Frederick
Rand, receiver. Marion S. c. Affirmed Nib
lack. jim 1879, the First National Bank, No.
So and the Indiana Banking Company, of In
dianapolis. obtained judgment on cha.tel mort
gage against the Shaw Carriage Company, and
procured appellants appointment receiver.
Subsequently the banks bought in the property
and left it in charge of Rowe to sell at the best
terms and divide the proceeds between the banks
according to their debt. Rowe deposited the
banks, as trustee in the Banking Companys
Bank. He had an individual account in this bank,
ono as agent and one as receiver. He was
advised oy member Of the bank to deposit as
trustee In 1888 the Banking Company sus
pended. In the meantime the First National
Bank. No. 2556, organized as the successor of No.
So The oed Banking Company owed the two banks o6s
more denied. Their business
was so intermingled and involved
that Aug. TO- 1883, representatives Of the three
banks II ct and agreed in writing that their diff
ferences be compromised. and that neither of
the banks should hold any claim against the
not to be construed as a release Of unpaid paper
against individual members of the company.
Rowe filed his intervening petition, asking that
BE allowance be made in his favor trustee for
the amount deposited by him. Rowe became an
agent only, not trustee for the sale of the
property; he acquired no lien either upon the
properly OF us proceeuss WHICH WOuIO nave pre-
vented the banks from revoking his authority
agent and demanding an accounting from
the banking company as to the money depos-
tied, or from demanding an accounting without
revoking his authority. The money deposited
constituted fund upon which the National
Bank might have based a claim against the COM
pany whec the agreement was made, and If all
claims against that fund were released by the
agreement. the agency was thereby revoked,
leaving Rowe to demand only accounting for
services and expenses.
TAxEs-AssEssMENT-BAN STOCK.
12469. City of Indianapolis vs. John H. Vajena
Marion S. c. Affirmed. Mitchell, J.-Where an
assessor refuses. after proper notice and de-
mand to allow any deduction from the value of
bank stock account of the bona fde indebted
ness of the owner, the assessment is erroneous
Who're the assessor receives proper notice while
the assessment is in fieri that the shareholder
owes bona fide debts which he is entitled TO have
deducted from the value of his stock, it then be-
comes the duty of the assessor to allow such de-
ductions, and if he proceeds in disregard of the
extent that the deductions to which the tax
payer is entitled denied and such taxpayer
can recover money paid under such assessment
from the city.
COLLATERAL ATTACK-INFANCY-s
1O455. Thos. T. Walker ct al VS.. Joanna
Hill ct al Jennings c. G. Affirmed Howk,
Jan adjudication however erroneous, is i'm
pervious to a collateral attack t2) The statute
of limitations begins to when the cause of
action accrues. Notwithstanding infancy. and
the only effect of the disability is give if the
full limitation had run during the infancy, two
years after the disability had been removed
RAILKoAD-EMPLoYE coNTRAcT-iNJURY.
1904 Pennsylvania Company VS.. Harry Whit